The Joint Reconstruction Devices Market is set to experience unprecedented expansion, driven by aging populations and increasing rates of orthopedic conditions. The market, currently valued at USD 26 billion, is projected to reach a staggering USD 41.5 billion by 2032, demonstrating a robust Compound Annual Growth Rate (CAGR) of 4.8%.
Joint reconstruction encompasses a diverse spectrum of treatments, including physiotherapy, surgical interventions, and advanced pain management strategies. The primary choice of therapy for many is physiotherapy, but for those seeking a lasting solution, surgical procedures are often the preferred course of action. Notably, minimally invasive surgeries are gaining traction due to the convenience they offer for both surgeons and patients, along with reduced hospital stay durations and quicker turnaround times.
In the realm of joint reconstruction, artificial implants take center stage, thanks to their simplicity of installation. Arthroscopes are revolutionizing the landscape by enabling outpatient surgeries, providing patients with enhanced convenience. Additionally, the utilization of advanced tools, such as image magnifiers and pre-operative planning systems, is further contributing to the evolution of joint reconstruction procedures.
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Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Joint Reconstruction Devices’ through its dedicated team of analysts and consultants. The bottom-up approach is bound to go a long way regarding the rapport with clientele. Also, micros and macros have been efficiently worked upon.
Key Takeaways from the Joint Reconstruction Devices Industry
- North America holds more than 30% of the market share. This could be credited to the US housing a huge number of industry players.
- Europe stands second on similar grounds and the status quo is expected to remain unchanged even going forward.
- The Asia-Pacific is expected to grow at the fastest rate. This could be attributed to FDI being approved by the governments of India and China. Japan is another country leading from the front.
- With the increase in the number of distribution partners, Mexico and Brazil are expected to dominate the joint reconstruction devices industry for LATAM.
Joint Reconstruction Devices Market Competitive Devices
- Smith + Nephew, in February 2022, announced the launching of the next-generation handheld robotics platform called ‘CORI Surgical System’ at the commercial scale. It stands out from its counterparts concerning compactness. Minimal set-up time along with portability implies that it could be moved from one theater to the other for optimizing patients’ flow via surgical units.
- Zimmer Biomet Holdings, Inc., in December 2020, announced that it had completed the acquisition of A&E Medical Corporation and its entire portfolio comprising sternal closure devices. They included cable systems, sternal sutures, and rigid fixation.
- DePuy Synthes, in March 2022, did acquire CUPTIMIZE Hip-Spine Analysis – a tool floated with the objective of better understanding and addressing the effect of abnormal motion between pelvis and spine in certain patients who need THA (total hip arthroplasty). It improvises on surgical planning capabilities related to VELYS Hip Navigation (a solution from DePuy Synthes’ VELYS Digital Surgery platform for connected technologies).
- LimaCorporate, in October 2022, did receive approval from the US FDA for a new-fangled shoulder platform emphasized on the glenoid baseplate. The humeral stem is 3D-printed in its entirety. This dental implant system, using patented TT (Trabecular Titanium) technology, aims to obtain robust primary fixation with successful growth of secondary bone.
- Smith + Nephew PLC, in September 2022, launched the OR3O dual mobility system for usage in revision and primary arthroplasty in Japan.
“With success for rheumatoid arthritis and osteoarthritis, the global market is bound to grow inadvertently in the near future”, says an analyst from Future Market Insights.
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How does the Report reconstruct itself?
- The research study is based on technology (joint reconstruction devices for joint replacement, joint reconstruction devices for osteotomy, joint reconstruction devices for arthroscopy, joint reconstruction devices for resurfacing, joint reconstruction devices for arthrodesis, and joint reconstruction devices for other technologies), and by type (knee joint reconstruction devices, hip joint reconstruction devices, shoulder joint reconstruction devices, ankle joint reconstruction devices, and other joint reconstruction devices).
- With growing occurrences of orthopedic diseases coupled with an increasing geriatric population, the global joint reconstruction devices market is expected to witness a noteworthy CAGR shortly.
Key Segments Covered In The Joint Reconstruction Devices Market Survey
Joint Reconstruction Devices Industry by Technology:
- Joint Reconstruction Devices for Joint Replacement
- Joint Reconstruction Devices for Osteotomy
- Joint Reconstruction Devices for Arthroscopy
- Joint Reconstruction Devices for Resurfacing
- Joint Reconstruction Devices for Arthrodesis
- Joint Reconstruction Devices for Other Technologies
Joint Reconstruction Devices Industry by Type:
- Knee Joint Reconstruction Devices
- Hip Joint Reconstruction Devices
- Shoulder Joint Reconstruction Devices
- Ankle Joint Reconstruction Devices
- Other Joint Reconstruction Devices
Joint Reconstruction Devices Industry by Region:
- North America Joint Reconstruction Devices Market
- Latin America Joint Reconstruction Devices Industry
- Europe Joint Reconstruction Devices Market
- Asia Pacific Joint Reconstruction Devices Industry
- Middle East & Africa Joint Reconstruction Devices Industry
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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